European Markets end the session in positive positions while Spanish stocks drop after Catalan dropdown

European equities

European stocks began the first trading day of the month in positive positions but investors shy away from Spanish stocks due to growing political concerns in the Catalonia Region.

The pan-European Stoxx 600 was 0.19 percent higher with most of its sectors moving towards the positive territory while all major bourses were higher although the spanish IBEX 35 fell abruptly at the beginning of the session.

The European markets followed the positive momentum from Asia, as traders waited for fresh data releases. This was followed by the news that the British airline Monarch stopped flights despite losses. This is expected to give other companies a boost including Ryanair and Easyjet.

The U.K. housebuilders topped the European benchmark in this session after the Prime Minister, Theresa May promised Sunday a £10 billion or $13.34 billion extensions to the government’s Help to buy scheme with that, Barratt Developments was up by 4.3 percent.

The French pen maker Bic was down by nearly 10 percent in early trade after cutting its sales forecast for this year.

In the U.K. investors will be keeping an eye out for comments from the Conservative Party Conference with Finance Minister Philip Hammond that is scheduled to speak on sunday, Prime Minister Theresa Mat vowed to have the right strategy to lead Britain.

In terms of data, Investors will be watching out for manufacturing PMIs from all across the eurozone.

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *